MANIC Monday will see online spending hit £750million as retailers slash even more prices than Black Friday.

Cyber shopping on the second Monday in December was given the name because people realised they must order to ensure delivery by Christmas.

The expected surge is an increase on the £677million first forecast by internet retailers’ association IMRG – and up by at least 17 per cent on a year ago.

Analysts said parents’ fears that in-demand toys will sell out was also behind the increase in spending.

TopShop, Clarks and Argos – plus online giants Amazon and Zavvi.com – are all offering discounts of 50 to 65 per cent on sales items.

Accountants PwC said 63 per cent of stores have cut prices – up from 59 per cent 10 days ago and up on the 62 per cent at this time last year.

Retailers are prepared for 151million visits to their websites, according to data firm Experian and online retailing trade association IMRG while they expect online traffic to be up by 26 per cent on the same day last year, with shoppers spending an average of £470,000 a minute.

Experts identified Manic Monday last year as the key online shopping date ahead of Christmas as consumers left it late because of increased confidence in delivery networks and click-and-collect services to get gifts to them on time.